Arkadios Wealth Advisors Buys 7,697 Shares of Truist Financial Co. (NYSE:TFC)

Arkadios Wealth Advisors boosted its stake in Truist Financial Co. (NYSE:TFC – Get Rating) by 21.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,944 shares of the insurance provider’s stock after acquiring an additional 7,697 shares during the quarter. Arkadios Wealth Advisors’ holdings in Truist Financial were worth $1,891,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Truist Financial by 3.6% during the 3rd quarter. BlackRock Inc. now owns 100,049,345 shares of the insurance provider’s stock worth $4,356,148,000 after buying an additional 3,443,946 shares in the last quarter. Federated Hermes Inc. lifted its position in Truist Financial by 125.0% during the 2nd quarter. Federated Hermes Inc. now owns 4,964,809 shares of the insurance provider’s stock worth $235,480,000 after buying an additional 2,758,668 shares in the last quarter. Capital World Investors lifted its position in Truist Financial by 585.1% during the 1st quarter. Capital World Investors now owns 2,712,800 shares of the insurance provider’s stock worth $153,816,000 after buying an additional 2,316,800 shares in the last quarter. Dodge & Cox lifted its position in Truist Financial by 12.4% during the 2nd quarter. Dodge & Cox now owns 19,105,325 shares of the insurance provider’s stock worth $906,166,000 after buying an additional 2,110,333 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Truist Financial by 12,790.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,959,251 shares of the insurance provider’s stock worth $85,306,000 after buying an additional 1,944,052 shares in the last quarter. 72.49% of the stock is owned by institutional investors.

Insider Activity at Truist Financial

In other Truist Financial news, insider Hugh S. Cummins III sold 35,229 shares of the stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $49.05, for a total transaction of $1,727,982.45. Following the transaction, the insider now owns 307,069 shares in the company, valued at approximately $15,061,734.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Truist Financial news, insider Hugh S. Cummins III sold 35,229 shares of the stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $49.05, for a total transaction of $1,727,982.45. Following the transaction, the insider now owns 307,069 shares in the company, valued at approximately $15,061,734.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David M. Ratcliffe bought 13,125 shares of the firm’s stock in a transaction on Friday, March 10th. The shares were acquired at an average price of $38.08 per share, for a total transaction of $499,800.00. Following the transaction, the director now owns 39,025 shares in the company, valued at $1,486,072. The disclosure for this purchase can be found here. 0.31% of the stock is owned by company insiders.

Truist Financial Stock Down 7.2 %

Shares of TFC opened at $30.56 on Friday. Truist Financial Co. has a 52 week low of $28.70 and a 52 week high of $61.10. The firm has a market cap of $40.59 billion, a P/E ratio of 6.90, a price-to-earnings-growth ratio of 1.37 and a beta of 1.10. The firm’s 50-day simple moving average is $45.85 and its 200 day simple moving average is $44.97. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 0.81.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 10th were paid a $0.52 dividend. The ex-dividend date was Thursday, February 9th. This represents a $2.08 dividend on an annualized basis and a yield of 6.81%. Truist Financial’s dividend payout ratio (DPR) is currently 46.95%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Stephens cut shares of Truist Financial from an “overweight” rating to an “equal weight” rating and set a $53.00 price target on the stock. in a research report on Tuesday, January 31st. Keefe, Bruyette & Woods raised shares of Truist Financial from an “underperform” rating to a “market perform” rating and dropped their target price for the company from $47.00 to $45.00 in a report on Sunday, March 12th. Morgan Stanley dropped their target price on shares of Truist Financial from $59.00 to $56.00 and set an “equal weight” rating on the stock in a report on Friday, January 20th. Deutsche Bank Aktiengesellschaft cut shares of Truist Financial from a “buy” rating to a “hold” rating and dropped their target price for the company from $61.00 to $48.00 in a report on Friday, January 6th. Finally, Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Truist Financial has an average rating of “Hold” and a consensus price target of $51.58.

About Truist Financial

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Truist Financial Corp. is a financial holding company, which engages in the provision of banking services to individuals, businesses, and municipalities. It operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, Insurance Holdings, and Other, Treasury & Corporate.